Kovack Advisors Inc. Cuts Stock Holdings in Invesco KBW High Dividend Yield Financial ETF (NASDAQ:KBWD)

Kovack Advisors Inc. decreased its position in Invesco KBW High Dividend Yield Financial ETF (NASDAQ:KBWD) by 9.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,180 shares of the company’s stock after selling 1,500 shares during the quarter. Kovack Advisors Inc.’s holdings in Invesco KBW High Dividend Yield Financial ETF were worth $217,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in KBWD. Highlander Capital Management LLC raised its stake in shares of Invesco KBW High Dividend Yield Financial ETF by 24.3% during the 1st quarter. Highlander Capital Management LLC now owns 5,245 shares of the company’s stock worth $81,000 after purchasing an additional 1,025 shares during the period. CWM LLC boosted its stake in Invesco KBW High Dividend Yield Financial ETF by 5.3% in the third quarter. CWM LLC now owns 29,781 shares of the company’s stock valued at $455,000 after acquiring an additional 1,507 shares during the last quarter. Mattson Financial Services LLC purchased a new stake in shares of Invesco KBW High Dividend Yield Financial ETF during the 2nd quarter worth approximately $45,000. Endowment Wealth Management Inc. raised its holdings in shares of Invesco KBW High Dividend Yield Financial ETF by 10.2% in the 2nd quarter. Endowment Wealth Management Inc. now owns 35,742 shares of the company’s stock worth $538,000 after purchasing an additional 3,321 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in Invesco KBW High Dividend Yield Financial ETF by 46.5% during the third quarter. Farther Finance Advisors LLC now owns 10,748 shares of the company’s stock valued at $164,000 after purchasing an additional 3,412 shares during the period.

Invesco KBW High Dividend Yield Financial ETF Stock Performance

KBWD stock opened at $15.21 on Friday. The stock has a fifty day moving average of $15.12 and a 200-day moving average of $15.26. Invesco KBW High Dividend Yield Financial ETF has a fifty-two week low of $14.34 and a fifty-two week high of $16.38. The company has a market capitalization of $396.52 million, a price-to-earnings ratio of 8.21 and a beta of 1.40.

Invesco KBW High Dividend Yield Financial ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 21st were given a $0.147 dividend. This represents a $1.76 annualized dividend and a dividend yield of 11.60%. The ex-dividend date was Monday, October 21st.

About Invesco KBW High Dividend Yield Financial ETF

The Invesco KBW High Dividend Yield Financial ETF (KBWD) is an exchange-traded fund that mostly invests in financials equity. The fund tracks a dividend-yield-weighted index of US financial firms. KBWD was launched on Dec 2, 2010 and is managed by Invesco.